By Christopher Romano — Aug 14 - 07:30 AM
AUD/USD broke the May monthly low, hit a 9-month low of 0.6456 overnight
AUD acted as a proxy for China's yuan which sank on Country Garden report
AUD/USD bounced, likely 0.6450 barrier protection may have drove rally
Pair hit 0.6503, opened NY near 0.6495 and traded down -0.05% in early NY
Rise in Australia yields AU3YT=RR may have added to AUD/USD's lift
Daily bull hammer candle formed, may be a warning signal for AUD/USD shorts
Monthly techs remain bearish however, implies rallies may still be sold
Minutes of RBA's August meeting is an event risk in the Asia session
Australia Q2 wage index, China July sales, industrial output risks in Asia
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary